TORONTO, Oct 23 (Reuters) - The Canadian dollar skidded to
a 4-year lower versus the U.S. dollar on Thursday as investors
liquidated riskier assets in favor of the greenback, leaving
the domestic currency pinned below 80 U.S. cents.

Domestic bond prices were mostly higher across the curve,
relishing in their role as a safe-haven investment as fears of
a global recession persist.

At 9:35 a.m. (1335 GMT), the Canadian unit was at C$1.2670
to the U.S. dollar, or 78.93 U.S. cents, down from C$1.2547 to
the U.S. dollar, or 79.70 U.S. cents, at Wednesday's close.

Earlier, the Canadian currency fell to C$1.2740 to the U.S.
dollar, or 78.49 U.S. cents, which was its weakest since
October 2004, but the move was blamed on investors being forced
to liquidate assets rather than the usual fundamentals.

"Were just seeing seeing a wave of liquidations by funds
and that means they are basically selling anything they can
sell, anything that isn't bolted down, and that includes
relatively solid currencies like the Canadian dollar," said
Doug Porter, deputy chief economist at BMO Capital Markets.

"Personally I think it's way overdone and we are going to
see at some point, it may take awhile, but we are going to see
a snap-back. But I don't think anybody wants to stand in the
way of this move."
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